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Richard D. Wolff — Capitalism as Obstacle to Equality and Democracy: the US Story

Summary:
The Cold War displaced the legacies of the New Deal. Time and Trump are now displacing Cold War legacies. Where capitalism was questioned and challenged in the 1930s and into the 1940s, doing that became taboo after 1948. Yet in the wake of the 2008 crash, critical thought about capitalism resumed. In particular one argument is gaining traction: capitalism is not the means to realize economic equality and democracy, it is rather the great obstacle to their realization.... Economic liberalism (capitalism) and political liberalism (democracy) are antithetical.CounterpunchCapitalism as Obstacle to Equality and Democracy: the US Story Richard D. Wolff, Marxian economist and founder of Democracy At Work

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The Cold War displaced the legacies of the New Deal. Time and Trump are now displacing Cold War legacies. Where capitalism was questioned and challenged in the 1930s and into the 1940s, doing that became taboo after 1948. Yet in the wake of the 2008 crash, critical thought about capitalism resumed. In particular one argument is gaining traction: capitalism is not the means to realize economic equality and democracy, it is rather the great obstacle to their realization....
Economic liberalism (capitalism) and political liberalism (democracy) are antithetical.

Counterpunch
Capitalism as Obstacle to Equality and Democracy: the US Story

Richard D. Wolff, Marxian economist and founder of Democracy At Work
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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